• ZIL/USD has now resorted to a range moving mode.
• The $0.02 lower range mark is considered as the critical price line that could signify an end of nurturing bullish sentiment.

ZIL/USD Long-term Trend – Ranging

• Distribution territories: $0.035, $0.04, $0.045
• Accumulation territories: $0.015, $0.01, $0.005

The range price movements of ZIL/USD still persistently occur in this week’s trading sessions. There has been a short notable shrink in range of the crypto’s market valuation as compared to the last formation of a daily candlestick which was found a bit above $0.025 market line on June 8.

The market has majorly been hovering around a small space between the $0.025 mark and the 14-day SMA indicator’s trend-line. The 50-day SMA is located below $0.02 mark that still stands as the lower range line of the current trending status of the market. The Stochastic Oscillators are now consolidating around range 60. That signifies the capacity degree at which the crypto-market is still held in its stance to the north.

The trade’s point at the $0.02 lower range mark is still considered as the critical price line that could signify an end of nurturing bullish sentiment of this market if broken forcefully to the south. Therefore, the market may only have to retrace towards the lower range spot so as to be able to forge further in its movements to the north.

Zilliqa:

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